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The stunning cityscape of Shanghai is captured from the observation deck of the Shanghai Tower, a prominent feature in China’s skyline.
Photo by Qilai Shen, Bloomberg, Getty Images
In a positive start to the week, South Korea’s Kospi index surged to a record high on Monday, amidst rising Asia-Pacific markets and speculation concerning potential U.S. involvement in Iran.
The Kospi index climbed 0.84% to reach 4,624.79, while the Kosdaq saw a modest increase of 0.2%, closing at 949.81.
Hyundai Glovis experienced a remarkable boost, with its shares jumping up to 7% following an upward revision of its price target by financial analysts.
This surge in Hyundai Glovis’s stock comes on the heels of an announcement by Boston Dynamics, in which the company holds an 80% stake. Last Monday, Boston Dynamics revealed a partnership with Google DeepMind aimed at incorporating artificial intelligence into their humanoid robots.
Oil prices are in focus as Iran entered a third week of protests, which have seen more than 500 people killed, according to a U.S.-based rights group. President Donald Trump is reportedly weighing options for intervention in Iran, according to multiple reports Sunday.
Brent crude futures reversed course to fall to $63.05 per barrel, while the U.S. West Texas Intermediate crude declined 0.49% to $58.83 per barrel, as of 10 a.m. Singapore time (9 p.m. ET Sunday).
Spot gold prices rose more than 1.6% to hit all-time high of $4,581.29 per ounce.
Gold spot price
Australia’s S&P/ASX 200 added 0.48% to 8,759.4.
Hong Kong’s Hang Seng Index added 1.44% to close at 26,608.48, and mainland China’s CSI 300 climbed 0.65% to 4,789.92.
India’s Nifty 50 was up 0.25%, and the BSE Sensex index was flat as of 1:50 p.m. local time. Shares of Reliance Industries fell 1.38% after the Indian conglomerate halted plans to make lithium-ion battery cells domestically after failing to secure Chinese technology, Bloomberg reported, citing sources.
Japanese markets were closed for a holiday. On Sunday, Japanese Prime Minister Sanae Takaichi’s coalition partner, Hirofumi Yoshimura, said that she may call an early general election. His comments come after domestic media reported that Takaichi was considering a snap election in February, citing government sources.
The Japanese yen weakened sharply Monday, hitting a one-year low of 158.19 against the greenback.
U.S. equity futures declined after the Department of Justice opened a criminal investigation into Federal Reserve Chair Jerome Powell, an apparent escalation by Trump in his attempt to pressure the central bank.
On Friday stateside, the S&P 500 closed up 0.65% to 6,966.28, a fresh record close. It also notched a new all-time intraday high in the session.
The Nasdaq Composite gained 0.81% to 23,671.35. The Dow Jones Industrial Average added 237.96 points, or 0.48%, to end at 49,504.07, scoring a new closing record as well.
— CNBC’s John Melloy, Sean Conlon and Pia Singh contributed to this report.
Correction: This story has been updated to accurately reflect Brent crude futures prices.